Riyadh Air close to $35bln Boeing deal
The aircraft order, valued at $35 billion, is part of a rapid expansion by Saudi Arabia under a strategy to transform the kingdom into a transport hub and promote tourism, according to The Wall Street Journal.
According to reports, the airline is set to receive the first wide-body aircraft and launch its first international flight in early 2025.
Saudi Arabia’s Public Investment Fund (PIF) is close to a deal to order Boeing commercial jets for the fleet of a new national airline — Riyadh Air — The Wall Street Journal has reported
The aircraft order, valued at $35 billion, is part of a rapid expansion by Saudi Arabia under a strategy to transform the kingdom into a transport hub and promote tourism, the paper reported, citing people familiar with the matter.
Saudi Arabia’s Crown Prince and Prime Minister Mohammad bin Salman announced on Sunday the establishment of Riyadh Air, a wholly owned company by the PIF.
Riyadh will be the company’s operational hub and will connect the Saudi capital to over 100 destinations globally by 2030, making use of the kingdom's location between Asia, Africa and Europe, state news agency SPA said.
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